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What is an SME?

Summary by simplybusiness.co.uk
SMEs – or small and medium-sized enterprises – are at the heart of the UK economy. Small businesses account for 99 per cent of all British businesses and contribute an estimated £2 trillion combined in annual turnover to the UK economy. But what is an SME and how are SMEs defined? Plus, read on to find out how the government’s categorisation of small businesses is changing in April 2025. What does SME stand for? SME stands for small or medium-s…
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simplybusiness.co.uksimplybusiness.co.uk

What is an SME?

SMEs – or small and medium-sized enterprises – are at the heart of the UK economy. Small businesses account for 99 per cent of all British businesses and contribute an estimated £2 trillion combined in annual turnover to the UK economy. But what is an SME and how are SMEs defined? Plus, read on to find out how the government’s categorisation of small businesses is changing in April 2025. What does SME stand for? SME stands for small or medium-s…

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simplybusiness.co.uk broke the news in on Thursday, March 27, 2025.
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